Mobix Labs (NASDAQ:MOBX) Issues Earnings Results

Mobix Labs (NASDAQ:MOBX) issued its quarterly earnings data on Monday. The company reported ($1.33) EPS for the quarter, Zacks reports. Mobix Labs had a negative return on equity of 1,175.77% and a negative net margin of 361.77%.The company had revenue of $0.79 million for the quarter.

Mobix Labs Trading Down 13.5%

NASDAQ:MOBX opened at $1.09 on Wednesday. The stock has a fifty day simple moving average of $1.88 and a 200 day simple moving average of $2.73. The firm has a market capitalization of $14.65 million, a price-to-earnings ratio of -0.16 and a beta of -0.72. Mobix Labs has a 1-year low of $1.03 and a 1-year high of $14.40. The company has a quick ratio of 0.17, a current ratio of 0.23 and a debt-to-equity ratio of 0.11.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Mobix Labs in a report on Friday, July 17th. One analyst has rated the stock with a Sell rating, According to MarketBeat, the company has a consensus rating of “Sell”.

Insiders Place Their Bets

In other Mobix Labs news, CFO Keyvan Samini sold 112,110 shares of Mobix Labs stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $1.98, for a total transaction of $221,977.80. Following the transaction, the chief financial officer directly owned 155,053 shares in the company, valued at approximately $307,004.94. The trade was a 41.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 16.73% of the company’s stock.

Hedge Funds Weigh In On Mobix Labs

Several institutional investors and hedge funds have recently bought and sold shares of MOBX. XTX Topco Ltd lifted its position in Mobix Labs by 47.4% in the 2nd quarter. XTX Topco Ltd now owns 38,671 shares of the company’s stock worth $30,000 after buying an additional 12,443 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Mobix Labs by 17.3% during the 4th quarter. Geode Capital Management LLC now owns 426,198 shares of the company’s stock valued at $114,000 after acquiring an additional 62,715 shares in the last quarter. Virtu Financial LLC increased its stake in shares of Mobix Labs by 247.8% in the fourth quarter. Virtu Financial LLC now owns 94,011 shares of the company’s stock worth $25,000 after acquiring an additional 66,982 shares during the last quarter. Mariner LLC raised its holdings in shares of Mobix Labs by 103.5% during the fourth quarter. Mariner LLC now owns 135,453 shares of the company’s stock worth $36,000 after acquiring an additional 68,879 shares in the last quarter. Finally, Toronto Dominion Bank purchased a new stake in shares of Mobix Labs during the fourth quarter worth $27,000. Hedge funds and other institutional investors own 8.56% of the company’s stock.

About Mobix Labs

Mobix Labs, Inc (NASDAQ: MOBX) is a technology company specializing in device intelligence software and services for the mobile device lifecycle. The company’s core platform enables real-time testing, authentication and diagnostic verification of smartphones and other connected devices. By combining automated testing tools with data analytics, Mobix Labs helps carriers, retailers, original equipment manufacturers (OEMs) and repair centers streamline operations and reduce return rates, fraud and waste.

Mobix Labs offers a suite of products designed to support the full spectrum of device management.